Bank stocks lift Saudi TASI higher
The Saudi Tadawul All Share Index (TASI) rose 0.6 percent higher to 7,286 on Wednesday as bank stocks surged on expectations of positive third quarter earnings.
Total trading turnover jumped to SAR 3.2 billion while the with the advances-declines ratio at 111/65.
Market Index
The banking sector sub-index advanced over 1 percent. Al Rajhi Bank, expected to see a growth in Q3 net profit, rose 1.3 percent to SAR 66.80. Arab National Bank jumped 3 percent to SAR 24.54 and National Commercial Bank added 1.6 percent.
Petrochemicals also gained. SABIC was slightly higher at SAR 101.80.
Aldrees Petroleum was top riser, extending gains from Tuesday. The stock closed over 5 percent higher at SAR 31.
Company Prices
MedGulf was the day’s biggest decliner, down 5.4 percent to SAR 31 after the insurer said it received a warning from the regulator to meet a number of solvency requirements by year-end or else risk being suspended from issuing new policies.
To contact the writer, email Brinda Darasha at brinda.d@argaamplus.com
Number of High/Low companies
Market Movers
| Company | 52 Weeks Range | Price | Change | Price Earnings |
|---|---|---|---|---|
| ALDREES | 15.47 | 5.53 % | 22.83 | |
| OASIS | 3.74 | 3.57 % | 17.48 | |
| ALRAJHI TAKAFUL | 23.36 | 3.16 % | 15.00 | |
| ANB | 12.26 | 3.02 % | 8.29 | |
| SASCO | 15.90 | 2.77 % | 41.81 | |
| MEPCO | 13.20 | 2.62 % | 36.69 | |
| JOUF CEMENT | 9.73 | 2.50 % | 24.96 | |
| SEERA | 24.75 | 2.40 % | 11.99 | |
| HERFY FOODS | 50.03 | 2.37 % | 15.62 | |
| BUDGET SAUDI | 18.72 | 2.37 % | 12.22 |
Companies trading above 3-Month Average
| Company | Average Volume (3M) | Volume | Percentage Change |
|---|---|---|---|
| MALATH INSURANCE | 827,893.00 | 4,520,064.00 | 445.97 % |
| ALDREES | 481,304.00 | 2,545,954.00 | 428.97 % |
| NORTHERN CEMENT | 124,126.00 | 541,549.00 | 336.29 % |
| SARCO | 311,306.00 | 1,205,073.00 | 287.10 % |
| BCI | 143,065.00 | 529,047.00 | 269.79 % |
| ZOUJAJ | 265,732.00 | 875,518.00 | 229.47 % |
| CITY CEMENT | 216,669.00 | 665,206.00 | 207.01 % |
| GASCO | 78,653.00 | 239,874.00 | 204.98 % |
| HERFY FOODS | 85,681.00 | 255,144.00 | 197.78 % |
| ADVANCED | 263,024.00 | 744,368.00 | 183.00 % |
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Companies achieved the highest and lowest closings in 52 weeks
| Company | Price | Change 52 Weeks |
|---|---|---|
| ALRAJHI TAKAFUL | 23.36 | 195.65 % |
| JAZADCO | 18.60 | 132.50 % |
| ZOUJAJ | 22.22 | 46.18 % |
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Calendar
| Company | Event | ||
|---|---|---|---|
| STC | Ex-dividend Date | ||
| ALRAJHI | Cash Dividend Distribution | ||
| SAUDI DARB | General Assembly | ||
| ACC | Cash Dividend Distribution | ||
| Dar Al Balad Business Solutions | Key Events | ||
| UCIC | Cash Dividend Distribution | ||
| ZOUJAJ | General Assembly | ||
| TASNEE | General Assembly | ||
| LUBEREF | Cash Dividend Distribution | ||
| SAMA | Reports | ||
| more | |||
Sector Closure
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